west central mo | krich434 - 7/9/2020 20:08
I have about 80% of our investible funds in Wells Fargo at an average of $27. It’s just been hammered the last couple of weeks. The other 20% is in JPM.
Expecting the WFC dividend to be slashed to 25 cents, but it’ll still be a nice payment. Low interest rates will hurt for a while but we don’t need the cash so it’ll ride it out.
So I'll speak from experience i graduated high school in 2008 when the last crash happened. The big guys on TV (Jim Cramer etc.) Recommended higher priced no issue Bank stocks like a jpm or gs so that's what i go for now because look at Fannie mae etc. I owned visa back in 2009 and regret selling it obviously so long story short in my opinion pick a sector that's hammered (oil recently) and pick the most sound balance sheet with a dividend and let it eat.
Wfc isn't one of those.... i almost nibbled but didn't. E-commerce is the future. I dumped another 10k in visa today ill probably dump 20k in alibaba around the 250 range.
Bonpas is always up on his purchases also and we all hit or miss but we both do our research.
Edited by scottyb69 7/9/2020 20:44
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Last stock purchase today for a while.
